In October, German industrial production grew more than expected - Orders for German industrial products increased by 1.5 percent
German industrial production rose much more than expected in October, but economists see no signs of a broader recovery as structural difficulties continue to weigh on businesses. Industrial production rose 1.8% from the previous month, compared with analysts’ expectations of a 0.4% increase. Although this is the second consecutive monthly increase, German economic experts say there is still no reason to be confident about the sector, which has fallen sharply this year.
Cost levels in Germany are high by international standards and order intake remains weak, experts said. According to them, "this dims hopes for a quick recovery."
According to statistics, production in October was still 0.9% below its level before the big drop in August and about 9% below its peak in February 2023.
The construction sector made a significant contribution, with output rising 3.3% month-on-month. The manufacturing sector, which excludes energy production and construction, also saw a notable increase of 1.5%.
The German statistics office added that production in September rose by 1.1% compared to August. The increase in October only made up for the sharp decline in the summer, meaning production continues to move, experts said.
German industrial orders rose 1.5% compared with the previous month on a seasonally and calendar-adjusted basis, the federal statistics office said on Friday.
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